Key Points:

  • Avolon is set to deliver a mix of A321neos and A320neos to Cathay Group in 2026 and 2027 through a sale and leaseback agreement.

  • A320neo family aircraft promise 20% fuel savings and CO2 reduction over prior Airbus A320 models, aligning with Cathay Group's sustainability aims.

  • As of September 30, 2023, Avolon boasts 101 A320neo family aircraft in its roster, with orders for an additional 192 units.

Cathay Group Boosts Fleet with New-Generation Airbus Aircraft for Enhanced Connectivity

Cathay Group Boosts Fleet with New-Generation Airbus Aircraft for Enhanced Connectivity

DUBLIN — Dublin-based aircraft leasing company Avolon has penned a sale and leaseback agreement with the esteemed Asian airline conglomerate, the Cathay Group. The deal encompasses nine Airbus A320neo family aircraft, which are slated for delivery in the years 2026 and 2027. Among these, the A321neo, an expanded variant of the A320neo, stands out, capable of accommodating up to 244 passengers and boasting a 7,400km flight range.

Eco-Friendly Advances with A320neo Family Aircraft

The new aircraft will buttress the Cathay Group's mission of expanding connectivity from its primary hub in Hong Kong. Beyond enhancing connectivity, the A320neo family represents a stride towards environmental sustainability. These aircraft offer a commendable 20% fuel economy and a corresponding CO2 emission reduction when juxtaposed with their predecessor, the Airbus A320.

Avolon's Expanding Airbus Portfolio

Avolon, already a significant player in the aviation leasing market, has a current fleet featuring 101 A320neo family aircraft. Their commitment to this efficient and sustainable aircraft type is evident from their sizeable order book, which includes reservations for another 192 units, as per records from September 30, 2023.

Cathay Group's Global Footprint

With an impressive roster of over 75 global destinations for both passenger and cargo services, the Cathay Group's global influence is undeniable. This number escalates to a whopping 235 when including destinations accessible through codeshare agreements. Their fleet size, as of June 30, 2023, stands at 225 aircraft, a testament to their vast operational scale.